eSignal Charting Platform Review: The Pros and Cons

eSignal Review

Features

Charts

Ease of Use

Scanners

Level 2

Platform Differentiation

Value

4.2

Summary

eSignal is recognized as one of the leading innovators in charting technology. The company has been around for years and offers a suite of trading platforms to meet the needs of various types of traders. The platform features beautiful charts, powerful scanning/trading tools, and advanced indicators for sophisticated traders. Read the review to see if this platform is a good fit for you.

About eSignal

eSignal.com is one of the oldest and reliable charting/trading platforms on the market. They are the early innovators of advanced charting technology and adaptive pattern recognition tools on the retail side. They have expanded their offerings and pricing categories to accommodate casual investors to active traders and offer 24 hours customer support Monday through Friday. The platform has evolved with online trading capabilities that can be integrated via plug-in directly to over 50 partner brokerage firms.

eSignal Pricing

eSsignal has 3 subscription plans available billed on a monthly recurring or annual pre-paid schedule. All plans include free online education and 24/5 customer support. Exchange data fees are extra. Add-ons studies and indicators can be purchased through their App store.

The Classic plan is $47 a month with a 10% discount for annual subscriptions. This plan is for casual investors and features 15-minute delayed intra-day quotes for stocks, futures and Forex, advanced charting, 200-symbol limit, advanced drawing tools and market screener for one free exchange.

The Signature plan is $152 a month with a 25% discount for annual subscriptions. This is the most popular plan suitable for active intra-day traders and swing traders. Features include real-time quotes for stocks, futures, options and Forex, advanced charting with customizable studies, 500-symbol limit, advanced trading and market screener for three free exchanges. Mobile apps, level 2 windows, analyst research and 1-year historical data are also included.

The Elite plan is $309 a month with a 20% discount for annual subscriptions. This is feature rich plan suitable for technical intra-day and swing traders that have an affinity for trading harmonic patterns including Elliott Wave chartists. Features include real-time quotes for stocks, futures, options and Forex, advanced charting with customizable studies and Advanced GET Studies, 500-symbol limit, advanced trading and market screener for three free exchanges. This plan includes access to a live once a week mentoring class. Mobile apps, level 2 windows, analyst research, additional Advanced GET strategies and various signature studies/indicators like Volume Delta, Market Profile also included.

Platform Features

Charts

eSignal has stable and smooth charting with flexible scaling. A major annoyance with big box online broker charts that really gets under my nerves is the convoluted process of scaling, resizing charts and moving charts around the workspace without having them all bunched up, squished with overlapped indicators. That’s why I love how easily eSignal charts scale intuitively no matter where you move them or how much you resize them. They can be easily linked to multiple windows.

Technical Indicators

Charts included a vast library of basic to advanced technical indicators ranging from moving averages to Fibonacci retracements and Gann fans. The flexible scaling has the most benefit when moving around and resizing charts with a number of technical indicators. Other platforms will just bunch up the indicators or leave them out altogether causing a time consuming and aggravating hair pulling experience while markets are moving. This is where the experience of eSignal’s programmers shine, because they factors in real world situations that are convenient to traders.

Level 2

The level 2 and time and sales windows are stable and seamless with ability to add more depth with subscription agreements for Nasdaq Total View and ARCA book.

News

The news feed is second to none with Dow Jones Headline news, COMTEX and access to various third-party providers and subscription plans. News traders conveniently use keywords to scan for catalysts throughout the day.

Scanners

The Market Screener Plus is an exceptional scanner that users can use to scan by fundamental, technical or values. Users can create their own scans or select from predefined scans, customized scans and purchased scans from the apps store. Scans are limited to the number of free exchanges covered under respective plan. Additional charges apply for more exchanges.

Alerts

The eSignal platform can be configured with user-defined alerts based on price, pattern, metrics and various other parameters directly through the scanner, watch lists or on charts. This is an extremely useful feature that gives traders the ability to diversify their trades and optimize their focus.

Order Entry /Compatible Brokers

Users can place trades directly through the eSignal platform after connecting to their participating online broker. The platform doesn’t allow trading functions for users in Europe, Middle East and Africa.

Watch Lists

Users can create watch lists up to the symbol limit of their subscription plan allows. There also are also pre-defined watch lists indicating stocks with large up or down gaps, highs/lows and stocks with the largest percentage and dollar changes.

Platform Differentiators

The core eSignal platform is a great product that has lasted for over 20 years as many of the seasoned veteran traders will attest to. While new traders may feel the platform is antiquated, the quality of the components is top notch. The 3 platforms all come with a 30-day risk-free guarantee. As a trader from the late 1990s, I am very satisfied with eSignal for the stability and quality of the platform.

What Type of Trader it Is Best For

Most active traders will find the Signature Plan sufficient while cash investors who don’t mind 15-minute delayed quotes may find the Classic plan appealing mostly for the scans and studies. Technical analysts who are Elliott Wave and harmonic pattern zealots will find the Elite plan useful. This is a tool for more advanced traders who can justify the cost of a standalone charting platform. Traders looking for free charts may consider the TradingView web platform.

Cons

About The Author

Dave has been a part-time day trader and swing trader since 2011 when he first became obsessed with the markets. He focuses primarily on technical setups and will hold positions anywhere from a few minutes to a few days. Over his trading career, Dave has tried numerous day trading products, brokers, services, and courses. He continues to test and review new day trading services to this day.